Oasis' Noel Gallagher hopes the credit crunch worsens

Oasis' Noel Gallagher has joked that he hopes the global financial crisis gets worse – because it will help bands write better music.

He compared the current financial climate to conditions in the early '90s when the Manchester band started out, joking that he hoped a similar resurgence in the quality of music would occur.

"I hope the financial crisis gets a bit worse - at least we'll get a few good albums out of it," he told That's Shanghai.

He added: "When we started in the early 90s it was a pretty grim time when the Conservative [party] was still in power. Times of crisis usually bring out the best in music and fashion and politics and things like that."